All Forum Posts by: Bradley Dosch

Hey Bryce, how awesome that you want to get into house hacking and that you're already in a great position to do so. Your plan to buy a duplex with a FHA loan is perfect. I would also recommend looking into a single family house hack with a 3-5% down conventional loan. This works really well in many markets with some creativity.

The biggest piece of advice I have is to just get started. It won't be perfect but it's really hard to lose with house hacking. It sounds like you have a great mindset and are in a great position to go for it. Continue being frugal and saving up that cash and strike on a good opportunity when you see fit. Good luck and feel free to reach out with more questions!

Hey Anthony, house hacking is probably your best bet here. Of course I don't know anything about your goals or personal situation though. Good luck!

Hey Mark, it's great to hear you've been soaking in the knowledge lately! I don't know anything about your personal situation but it sounds like house hacking would be perfect for you! $100k is plenty for 3-5% down payment on a house hack. This is basically training wheels for REI. It's really hard to mess this up and really easy to hit a financial home run. I would use that money for the down payment, closing costs and renovations for a house hack in an awesome location where you can live and rent out other space. You'll most likely have plenty of money left over for reserves and other investments. In a year you can repeat this! Good luck Mark!

Hey Nick, super exciting that you're looking to get into house hacking! For 2-4 unit multifamily, a 3.5% down FHA loan is the way to go. If you go with 3-4 units, you'll have to go through FHA self sufficiency which can be difficult to pass. 2 units does not require this but you can still use the income from the other unit which is a huge score. Its downsides are the expensive UFMIP and the strict guidelines.

To be completely honest, I don't know much about the ARM you mentioned. It seems pretty common place to just lock in the fixed interest rate with the expectation of eventually refinancing to a lower rate. I wonder if there are any cash flow requirements for a owner occupied MFH loan? Good luck Nick!

Hey Jace, great question and good on your for getting started. It can definitely be tough in super nice neighborhoods to make a house hack work. I know nothing about this area but maybe there is some neighborhood with more affordable home prices you could move to? As others have said, remember that coming out of pocket on a house hack is still a win. You're saving on rent, own an appreciating asset, paying down your loan, and get awesome tax benefits. Long story short, try your best to get started as soon as you can!

Hey Hariharan, yes you are ready and prepared! Buy the house hack as soon as possible! Don't wait, get started as soon as you can. Live in it for as long as you're there, and then when you move keep it as a rental and house hack in your new location. Your quote at the end is awesome. If you're worried about managing it remotely, just get a property manager. Let me know if you have any other questions :)

Hey Serena, that's an awesome goal! As others have mentioned, house hacking is almost always the way to go for most people. I'd recommend looking into that strategy. Of course you're always welcome to reach out to me with any questions

Hey Joseph, congratulations on the first rental property! Even if it is an accident, still counts :) My personal journey is similar to yours - I just keep house hacking once a year and keeping the previous one as a rental. This is a super accessible way for people to get into real estate investing

Awesome post Josh, go get after it!

Hey Paras, great post. I would echo what @Michael Haas said. In your situation, it sounds like a DADU development would be a great play. Although I'd first start out by seeing if you can rent out any space in your place in Issaquah. It's a very desirable place to live and that's a super easy way to increase your personal cash flow! I know it's not very sexy, but it works